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§ 8-708.1. Interest-free loans for dredging projects

West's Annotated Code of MarylandNatural Resources

West's Annotated Code of Maryland
Natural Resources
Title 8. Waters (Refs & Annos)
Subtitle 7. State Boat Act (Refs & Annos)
MD Code, Natural Resources, § 8-708.1
§ 8-708.1. Interest-free loans for dredging projects
In general
(a) Projects for dredging channels adjacent to federal, State, county or municipal main channels or harbors may be financed by interest-free loans to a governing body for the benefit of a residential property owner or a group of residential property owners with land abutting the adjacent channel.
Agreements to participate by residential property owners required
(b)(1) Except as provided in paragraph (2) of this subsection, unless every residential property owner with land abutting the adjacent channel agrees to participate in the financing of the dredging project, the dredging project may not be approved.
(2) If all residential property owners abutting a channel adjacent to a main channel or harbor agree to exempt a residential property owner or group of residential property owners from participating in the financing of the dredging project, the residential property owner or group of residential property owners shall be exempt.
Repayments of principal on loans
(c) Repayments of the principal on loans made under this section shall be made by the governing body in accordance with § 8-708(c) of this subtitle.

Credits

Added by Acts 1988, c. 551. Amended by Acts 1990, c. 6, § 2; Acts 1990, c. 263.
MD Code, Natural Resources, § 8-708.1, MD NAT RES § 8-708.1
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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